The Hungarian advertising industry has been on a downward trajectory for years, with the trend continuing in 2023 according to data from the Advertising Association and its partner organizations. The reduction in state spending has been particularly drastic.

2023 is considered an atypical year because, while the Hungarian advertising market typically moved in tandem with the GDP, albeit with larger fluctuations, last year saw communication spending increase despite a nominal decrease in GDP - claims the Hungarian Advertising Association (MRSZ). The expansion was driven by a revival in the commercial market and general price increases in the media sector.

The advertising market grew nominally by 11 percent in 2023 but saw a real decline of 6.6 percent (7.2 percent when excluding foreign tech giants), as the average inflation rate for 2023 reached 17.6 percent. Like most industries, the sector uses the last "peace year" before the Covid pandemic, 2019, as a base year. The sector has not been able to rebound to the levels of that year in real terms, with a 5 percent shortfall.